NIU - Fundamentals, page-5

This is small map showing the vein Systems





Surmans Vein

14 August, 2018
At Surmans, a new culvert was installed and the access road to this vein area has been upgraded and extended to reach higher mining bench levels.

29 August, 2018
A 0.5t sample from one Surmans vein, approximately 15 metres below the current bench, produced a grade result of 8.0g/t.

The overall grades on the quarterly only look ordinary because they have been processing this waste ore to get to the lower bench, and things look like they are going on nicely

2137.5 tonnes of low grade and/or waste material processed through the ball mill at an average grade of 0.24 g/t to produce 328.4g (10.6ounces) of gold.

Edie Creek (Ingapoe Area)

14 September, 2018
Niuminco announced bonanza grades of 83.3g/t gold from a newly discovered vein in the Ingopae area of Edie Creek, approximately 200metres south of the camp compound.

20 September, 2018
Niuminco announced that further bonanza grades of 93.8g/t gold (average) have continued from the sampling of the recently discovered vein in the Ingopae area of Edie Creek, approximately 200metres south of the camp compound

Additionally, another parallel vein has been discovered approximately 10metres to the south-east of this vein, and is currently being sampled, despite heavy rain interrupting sampling operations over the past two days.

Waste material from immediately beside the vein was also run through the ball mill on 16 September (38 tonnes) and 17 September (50 tonnes) for testing purposes, producing only 5.9g and 7.9g gold respectively....Not bad for ONLY

Enterprise-Karuka

Drilling programs in the past have been difficult with fractured ground and continuous, cavernous veins at Enterprise, which has seen drilling yielding less than 50% core recovery of the oxidised veins and an inferred large gold loss.

27 March 2017
Assay results on the six completed drill holes include:

• EDD 019 intersected 5.4m @ weighted average of 2.97g/t Au and 94g/t Ag from 8m depth, including:

o 2m @ 6.89g/t Au and 195g/t Ag from 10m.

• EDD 020 intersected 9m @ weighted average of 1.07g/t Au and 62g/t Ag from 12m, including:

o 1m @ 4.06g/t Au and 21g/t Ag from 13m.

• EDD 022 intersected 1.0m @ 13.4g/t Au and 473g/t Ag from 32m and 3.0m @ weighted average of 4.61g/t Au and 100.3g/t Ag from 38m, including:

o 1.0m @ 8.98g/t Au and 88.5g/t Ag from 38m.

• EDD 023 intersected 4.4m @ 1.66g/t Au from 43.4m and 0.30m @ 6.07g/t Au from 53.5m ( a footwall remnant), including:

o 1.4m @ 3.2g/t Au from 43.4m.

• EDD 021 intersected 3.4m @ weighted average of 2.03g/t Au and 143g/t Ag from 35m, including

o 2.1m @ 3.04g/t gold and 167g/t Ag from 35m

The Enterprise Mine was developed immediately prior to World War II, but no production occurred. Detailed underground sampling was reported in 1940 prior to abandonment due partly to the Japanese invasion of New Guinea and partly to a flooding incident at the nearby Edie Mine.

The mine saw substantial level development but no stoping and production, so that there is ore defined by sampling that was never exploited.

Calculations by Mincor Resources NL in 2013 established potential for 35,000 ounces in 4 adjacent blocks. The reliability of the underground sampling is not questioned, however this sampling cannot be used to compile a JORC compliant resource.

Sept 2018 Qtrly

A significant 7m wide quartz limonite sulphide vein structure ( including 2m puggy clay shear on the hanging wall) was discovered in the Enterprise-Karuka stock-work area(pictured below). This vein is thought to be the south-bounding structure of the Karuka stock-work zone which is estimated to be approximately 300m wide. The samples have been sent to ITS for assaying with results and announcement expected shortly.

Additionally, rock samples from the Enterprise area (pictured below) with visible copper minerals were collected, and again the samples have been sent to ITS in Lae for assaying with results expected soon.

This is an area with no previously known Copper in the past

Main Edie Lode and Alpha West

14 August, 2018
The main Edie Lode at Alpha West has been cut back to the western extremity of the current top bench, exposing the vein to a width of 3-4 metres, with a further splay vein approximately 1.5 metres wide and some 4 metres to the north.

29 August, 2018
Grades of 34g/t were achieved from mining at creek level in 2015.